One Live Oak, a major Buckhead office tower, has been sold to a NY-based Investment firm. HighBrook Investment Management purchased the building, which shares a complex with sister building Two Live Oak and the Pinnacle building, paid $22.2 million for the loan on the property and then refinanced that same loan with the help of a $7 million mortgage from Mesa West Capital.
Reps from HighBrook expressed excitement over the asset’s acquisition and says that the property has been “over-leveraged and under-capitalized” in recent years. HighBrook plans to spend an undisclosed amount of money to reposition the property, including façade, interior, and common area renovations. One Live Oak is currently 65% with the University of Georgia as its largest tenant.Share